Bullish Market Entry Point for ThinkorSwim

T

tomsk

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@Playstation If you have not already done so, you might consider loading the following study

Code:
# TICK and AD Label
# tomsk
# 11.15.2019

input TickSymb = "$TIKSP";
input ADSymb = "$ADSPD";

def TICKS = if !IsNaN(close(TickSymb)) then close(TickSymb) else TICKS[1];
def AD = if !IsNaN(close(ADSymb)) then close(ADSymb) else AD[1];

AddLabel(1, " Tick = " + TICKS, if TICKS < 0 
                                then Color.Pink 
                                else Color.Cyan);
AddLabel(1, " AD = " + AD, if AD < -350 then Color.Pink 
                           else if AD > 350 then Color.Cyan 
                           else if between(AD, -250, 250) then Color.White 
                           else Color.Yellow);

These labels are color coded and tells you if we oscillate from a bullish undertone to a bearish undertone
The tickers in my study are the TICK and Advance/Decline for the S&P 500
 
P

Playstation

Active member
VIP
@tomsk I have not, and I'm not too sure how to use it.

However, I'm wondering, if we can observe the market internals of the SnP, would we somehow be able to check on just the breadth ratio of an underlying stock?



I tried to switch to lower TF than 1hour, but not possible to have the labels showed up like the link like traderslog.
 
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T

tomsk

Well-known member
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@Playstation That study works on Daily. For intraday, the study would have to be modified to define a secondary aggregation
Keep things simple for now
 
T

Thomas

Active member
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My Vix chart,....many goodies: https://tos.mx/j9XXslO

My TICK with goodies. I place this in Flex charts with three futures charts, /YM, /GC, /CL which are configured with ORB and this TICK by itself....1D/1Minute https://tos.mx/jUnBAXG
 
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T

Thomas

Active member
VIP
Shadowtrader shared a chart set up of internals years ago, maybe search YouTube....
 
D

DeusMecanicus

Member
This thread might be worth a revisit for a similar indicator.
https://usethinkscript.com/threads/vix-tool-idea.1633/#post-17446
I added a quick pricecolor view to the bottom of @amalia post.
Get long after some sustained green or go short/cash if showing red.
Code:
assignpricecolor( If V<m1 && m1<m2 then color.green else If V<=m1 && V<m2 then color.yellow else if V>m1 && V<m2 then color.orange else if V>m1 && V>m2 then color.red else color.gray);

 
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3AMBH

3AMBH

Member
2019 Donor
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Thanks @tomsk, Would you have time to take a screen shot of a chart showing this please? Thank you
 
T

trade seeker

New member
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@DeusMecanicus, I tried to use your "assignpricecolor script" that you used at the bottom of @amalia script. But it showed an error and I had to remove the script. Could you please respond with directions on how to replicate the SPY chart you showed on April 25. I am very interested in replicating that SPY chart, and I have no script writing ability as of yet. Looking forward to your response.
Thanks trade seeker
 
T

trade seeker

New member
VIP
Thanks BenTen for posting the Bullish Market Entry Point for ToS, it is a very enlightening chart.
On a side note, will be home next month and will become a paid member and looking forward to purchasing your Advanced Market Moves 2.0 indicator. Thanks again!!!! trade seeker

@DeusMecanicus , Thank You for your quick and courteous reply. When I saw your post, I knew it was a good day!! It worked perfectly, I did not have a problem with the script. Again, THANK YOU!!!
 
spicytrader

spicytrader

New member
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Excellent as always Ben! Instead of waiting for that next Crash, is there any way this can be modified to call the Tops as well?!
 
V

Vimal Mittal

Member
@tomsk How about TIKi? Does any one have a script for tiki to place on chart? In my opinion, TRIN TRINQ, TICK and TIKI and PC ratio we need all this on chart to know which direction market is going to be for that day by watching all these breadth indicators in morning .
 
T

Thomas

Active member
VIP
@tomsk How about TIKi? Does any one have a script for tiki to place on chart? In my opinion, TRIN TRINQ, TICK and TIKI and PC ratio we need all this on chart to know which direction market is going to be for that day by watching all these breadth indicators in morning .
Honestly, put a 20ema, 34ema, 17ema on your chart,...what way is it headed. It's not the indicator, it's the set up, is your symbol setting up for a buy...
 
K

KRHIlls

New member
VIP
Can this indicator be used on a 5 minute chart?

After posting the above question i saw the indicator can only be used for long plays

Is there anyway the script can changed to use on a 5 minute chart?
 
netarchitech

netarchitech

Well-known member
VIP
Am I right to say this only applies to the major 3 indices, Nas, SnP, Dow?

A little late with this reply, but better late than never :) Here are the Volatility Indices that I have:

$DJI --> VXD (Dow 30)
SPX --> VIX (S&P 500)
NDX --> VXN (Nasdaq 100)
Gold --> GVZ
Oil --> OVX

Hope this helps...

Good Luck and Good Trading :)
 
BenTen

BenTen

Administrative
Staff
VIP
@KRHIlls No, this isn't to be used on a day to day basis.
 
J

johnnyrocker

New member
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Is it possible to translate this ratio code as a column in a scanner rather than a chart? I’ve got VIX and VIX3M in a watch list scanner but I’d like to be able to have the real time ratio as a 3rd entry.
 

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